Down Economy Forecasted By Roubini “Dr. Doom”.
Detroit, Michigan, USA - Economist Nouriel Roubini spoke at the Skybridge Alternative Conference and warned the U.S Economy could fall into a recession in 2013. Roubini attributes this to a global perfect storm that he says is starting now.
The storm is shaped by four elements including flat growth in the U.S. that has struggled to gain momentum. Factors outside the U.S. start in Europe where countries like Greece and Spain continue to have trouble with debt. Military conflict in Iran is also making investors nervous.
On a global level most problems are evened out by areas with growth and new prosperity. This year though Roubini sees a slowdown in typically emerging markets. The most notable market being China.
In 2005 Roubini accurately predicted the U.S. housing market collapse and warned it would turn into a deep recession that would hurt consumer confidence. His views on the economy are often critical, which has earned him the nick name Dr. Doom.
“Everyone fears an unstable economy.” says John Devereux of REI Profit And Wealth, “When people don’t know what to expect it makes them feel like they don’t have control over their own future.”
Adds Devereux, “Many real estate investors get started during times like Roubini is forecasting. An additional income provides stability and gives back some of the control that is lost with a down economy.”
The REI Profit And Wealth website, www.REIProfitAndWealth.com , focuses on investing in real estate and combining different strategies that are proven for short and long-term gains including renting, wholesaling and flipping houses.
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